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UAE rejects resolution of European Parliament
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COVID-19: Those vaccinated can enter Abu Dhabi from within UAE if they have green pass, with E or star on Al Hosn app
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Dubai: The UAE is now a hub for ultra high networth individuals with private financial wealth exceeding $100 million.
In 2020, 34 per cent of the UAE’s wealth was held by individuals who are worth $100 million or more while 26 per cent is held by those who are worth between $1 to $100 million, according to data from Boston Consulting Group.
In the GCC, 115 individuals are worth $100 million or more, while 144,959 individuals are worth between $1 million and $100 million. Across the GCC, the financial wealth in 2020 amounted to $2.2 trillion and is expected to grow to $2.7 trillion in 2025.
Saudi Arabia and the UAE together account for 71 per cent of the financial wealth within the GCC with Saudi accounting for 45 per cent of this followed by 26 per cent by the UAE and 11 per cent each by Qatar and Kuwait.
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